Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Hezbollah: Hezbollah threatens revenge, Israel on alert after series of pager blasts
After the series of pager blasts in Lebanon's capital Beirut on Tuesday, Hezbollah has threatened
India's young fast bowler Mohammad Siraj is no longer the number-1 ODI bowler in the world. He is
The second wave of Corona in the country is becoming uncontrollable. A record 4 lakh 12 thousand
In the IPL 2022 season, once again the threat of corona has started looming. After the physio of
During the economic crisis in Pakistan, the political uproar is also increasing. There is news fr
The Kashmir Files Box Office: Vivek Agnihotri's Danka played abroad as well, crossed 300 crores
Vivek Agnihotri's super-duper hit film The Kashmir Files' Danka Saat Samandar Paar is also playin
The sentence will be announced today in the RG Kar case of Kolkata, the capital of West Bengal. A
Indian Railway Catering and Tourism Corporation (IRCTC) is planning to generate revenue of Rs 100
Tensions with China have been increasing since the US House of Representatives Speaker Nassie Pel
Maharashtra: CAG will audit the works of BMC, CM Shinde orders, trouble may arise for Uddhav
Another trouble may arise in front of Uddhav Thackeray in Maharashtra. In fact, Chief Minister Ek
